This report is an excerpt from Everest Group's Navigating the Waves of a Global Pandemic: Recruitment Process Outsourcing (RPO) State of the Market Report 2020 report. Available for free to RPOA gold members.
The unprecedented COVID-19 pandemic has affected multiple industries, including talent acquisition. The Recruitment Process Outsourcing (RPO) market was one of the fastest-growing outsourcing markets globally, posting double-digit growth over the past several years, including 2019. However, the market is expected to contract by 6-10% in 2020, considering the economic instability in the wake of the global pandemic. A sharp recovery can be expected in 2021, as deal activity is expected to accelerate with the economy’s recovery.
As the industry slowly recovers, buyers are expecting greater availability of talent at reduced price points. Thus, service providers are accelerating their digitalization and automation initiatives and optimizing their costs and processes. Cognitive automation solutions driven by Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) are helping ensure business continuity and cost reduction by enabling various recruitment processes' end-to-end automation. There is a rising demand from buyers to leverage advanced data analytics and derive better insights into their workforce and recruitment activity.
The full report provides comprehensive coverage of the 2019 RPO market and analyzes it across various aspects, such as the impact of COVID-19, regional overview, adoption trends, value-added services and capabilities, and digital trends in permanent recruitment.
The full report report analyzes and draws insights from active RPO deals in 2019 – across various geographies, industries, and job families – which meet the following criteria:
In the full report, we focus on:
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